Part of the Navy Creed when I was a sailor emphasizes the words HONOR, COURAGE, and COMMITMENT.

And we are totally committed!

That's not awful, but if you committed your funds in the beginning of July, that's 1 month of no interest (July) and another 6-8 week wait for your first payment.  

Received the title insurance commitment file from the title company in which there is a section called "EXCEPTION".

Victoria,You can form your own but that is a big commitment and getting sound legal advice is just one issue, let along getting in bed w/your family.  

I guarantee you you'll find more than a few seasoned investors will help you.Assuming you are committed and stick around in RE for a few years, (which means you ll do several deals), 50% of first few won't matter in the long run.Remember, "Even 10% of a great deal is better than 100% of no deal" You are still getting 50 !!

I know in Charleston were I work.. we survey everything as there ARE encorachments all over the place.. but we are working with infil little 20 to 40 foot side lots with homes built right on the lot lines and usually there are encroachments.. check with the title company. the day you lock it up open escrow and order a title commitment. you want that right away as well.my best guess is this will all be fine. 

First things first, you will want to determine a budget that you can commit to for about 6 months consistently.

My wife and I have teamed up with another family and are all very excited and committed to this next chapter in our lives.   

Has anyone else gone through this kind of strategy either with BP or elsewhere to start committing to the idea of REI?